E-commerce giant Flipkart crosses the 100 million customers mark

Flipkart, the very popular e-commerce site, started in Bengaluru by Sachin Bansal and Binny Bansal has claimed to hit the milestone of 100 million customers. This is a huge achievement as no other website has this kind of customers registered with them.

“This is a small step in our efforts to build a platform that provides quality products, affordable and accessible to millions of Indians shopping online. This milestone has further energized us to ramp-up our efforts and build a world-class shopping destination.” -Binny Bansal, CEO.

Till the month of March, they had 75 million registered users but in the second half of September, 2016, they managed to hit the 100 million mark. The e-commerce site has been able to double up the customer base in the short span of a year and has gained 25 million users in 6 months only. It is estimated that Flipkart with a strong market share of 43% would be likely to emerge as the market leader with a clear cut majority by 2019.

The success of Flipkart can be accredited to the investors Tiger Global, Accel Partners, Morgan Stanley and T Rowe which is why the company could raise a sum as huge as $3billion in the past. The company is on an acquisition spree and has acquired biggies like Myntra, Jabong and LetsBuy which has helped their customer base expand. Flipkart has also invested in various start-ups across the country like NestAway and BlackBuck.

Flipkart achieving a milestone so huge just shows the potential of e-commerce in the Indian market and the growing demand for products sold online. Websites like Amazon and Alibaba which are global world leaders are also looking to make their mark in the nascent but developing Indian e-commerce markets.

However, the Indian market has a lot of globally funded players like Flipkart, Snapdeal and Paytm which have a significant share in the market.